News 

California officers on leave, face charges in overtime fraud

“He acknowledged that any criminal case involving police work or testimony by the officers and sergeants involved in the overtime fraud could be compromised” reports thebusinessjournal.com. (AP) — The California Highway Patrol has suspended the police powers of dozens of officers after discovering they got overtime pay for thousands of unworked hours in a case that could lead to criminal charges, officials said Friday. Source: thebusinessjournal.com

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Crypto News 

Taiwan Indicts Seven Allegedly Fraudulent Bitcoin Investment Managers

“As Cointelegraph reported in December last year, Italy’s securities regulator suspended two projects for allegedly offering fraudulent crypto investment schemes” writes Adrian Zmudzinski for cointelegraph.com. Seven people who allegedly managed a fraudulent crypto investment scheme have been indicted in Taiwan, according to a report by English-language local media FocusTaiwan on Jan. 18.The group was reportedly arrested on June 13 last year for allegedly operating a fraudulent Bitcoin (BTC) investment scheme. In the same month, research conducted by the Wall Street Journal revealed that hundreds of cryptocurrency offerings showed signs of…

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70% of Chinese P2P lenders could disappear

“These regulatory demands combined with increasing macroeconomic pressures globally are likely to result in a server test for the P2P industry” writes Mekebeb Tesfaye for businessinsider.com. The UK’s P2P industry has similarly gained considerable traction over the past few years.The Chinese government’s intensifying regulatory crackdown of the country’s troubled peer-to-peer (P2P) lending industry could see up to 70% of firms shut down, reports Bloomberg citing research by Yingcan Group.The subsequent regulatory crackdown aimed at cleaning up the industry has seen a slew of P2P platforms fold, with more than 80%…

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Crypto News 

Cryptocurrency Scam: Texas Securities Board Issues Another Cease and Desist Order

“Regulators in Texas have once again issued a cease and desist order against a promoter of an allegedly fraudulent cryptocurrency investment scheme” writes Nick Omo for livebitcoinnews.com. According to the statement, Travis J. Iles entered an emergency cease and desist order against one Mark Steven Royer for offering a fraudulent cryptocurrency investment scheme.According to the order, Royer assured investors of between 10 to 20 percent ROI on a weekly basis.Do you think that Royer is running a fraudulent cryptocurrency investment scheme?. The Texas State Securities Board issued a press release…

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‘Crack in system’ lets parents scam their child into school

“Children are missing out on school places because of “a large crack in a system” that lets fraudulent applications go undetected, a Daily Telegraph investigation has found” writes Owen Paterson for telegraph.co.uk. More than one in six of 140 local authorities that responded to freedom of information requests said they do not collate fraudulent applications.In many cases, the policing of this by local authorities is limited to cross-referencing information on applications with existing records, such as the electoral roll or those for council tax.The Telegraph’s inquiry found some local authorities…

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Crypto News 

Cryptocurrency Scam: DJ Khaled and Floyd Mayweather Sued for Promoting Fraudulent ICO

“According to TMZ, the two celebrities are being sued for endorsing the Centra Tech cryptocurrency ICO. Back in September 2017, both the boxer and the music producer published tweets endorsing the Centra Tech project” writes Nick Omo for livebitcoinnews.com. DJ Khaled and Floyd Mayweather are facing legal troubles from victims of a cryptocurrency scam.Earlier in the year, the United States Securities and Exchange Commission (SEC) charged the Centra Tech founders with wire fraud and securities fraud. Source: livebitcoinnews.com

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Trump to fraudulent voters: ‘Cheat at your own peril’

“With just a few weeks to go until the midterm elections, President Trump tweeted out a warning for those who might not be able to vote” reports washingtonexaminer.com. Though Trump has pointed to widespread voter fraud in the 2016 elections — claiming millions of illegal votes were cast — a controversial voter fraud panel was disbanded in January. Source: washingtonexaminer.com

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Crypto News 

North Dakota Securities Commissioner Issues Cease and Desist Order Against 3 ICOs

“Karen Tyler, North Dakota Securities Commissioner, has issued cease and desist orders against three firms promoting fraudulent and unregistered securities in the garb of ICOs (Initial Coin Offerings)” writes Kuldeep Kaul for livebitcoinnews.com. Securities commissioner of North Dakota has issued orders against three companies allegedly promoting fraudulent ICOs.What do you think should governments and regulators do to protect the investors from fraudulent ICOs and cryptocurrencies?. Statements on the website claim that holders of the coin can earn through the appreciation in the value of the asset. Source: livebitcoinnews.com

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iPhone frauds in China cost Apple billions of dollars in last five years: Report

“Fraudulent iPhone repair claims made in China cost Apple billions of dollars over a period of five years, according to a report in The Information” reports firstpost.com. But thanks largely to the fraudulent scheme in China, Apple ended up spending $3.7 billion in that period, the report said.At its peak, Apple estimated that 60 percent of warranty repairs in China and Hong Kong was fraudulent. Source: firstpost.com

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